KEY POINTS
- Solana Saga was launched in May
- The phone was sold out by Saturday
- BONK was trading in the red zone at $0.00002034 in the early hours of Monday
BONK, the dog-themed token on the Solana blockchain, has resurrected the sales of Solana's flagship Web3 Saga phones, with their prices surging to nearly 10 times their original retail value.
Several Solana Saga phones have been sold for above $2,000 on the online marketplace eBay. Most of these phones listed by their sellers, mainly from the U.S., were described as "sealed and unopened" as the hype surrounding BONK and its possible future airdrops surged.
Solana Saga phones initially had disappointing sales numbers and was deemed a "failure" following its launch in May.
The phone's suggested retail price was $599 but some units fetched even more, with two phones reportedly being sold for $5,000 apiece and some others for $3,361.
The Solana Web3 mobile phone was sold out by Saturday after crypto traders discovered that the smartphone came with an airdrop of BONK meme coins valued at more than the cost of the hardware.
The Saga is SOLD OUT!
— Solana Mobile 🌱 (@solanamobile) December 16, 2023
Words cannot describe how much we appreciate your support. We are nothing without this amazing community 🫂
While these past few days will be cemented in our history, we’re excited for the future 🫡
Stay tuned ✨ pic.twitter.com/KJje8lBDLL
Solana Labs, the team consisting of the network's founders, wants to keep its doors open and assess the demand and developer interest before moving forward.
"We're extremely excited by this surge in momentum and interest in Saga," a spokesperson for Solana said. "Right now, our priority is to continue listening to our community so that we can understand what this demand looks like, both now and in the future, and assess what comes next."
"In the meantime, we're eager to see additional submissions to the Solana dApp store," the spokesperson added. "Web3 developers are building great apps, and our hope is to continue to make Saga their portal into this loyal and committed community."
Over the past few days, BONK attracted substantial attention after the memecoin was listed on Coinbase, one of the largest cryptocurrency exchange platforms by trading volume, and Binance, another centralized CEX giant in the industry. This made the crypto asset surge to new highs.
However, BONK's value later receded, particularly over the weekend.
BONK was trading in the red zone at $0.00002034 as of 4:45 a.m. ET on Monday, with a 24-hour trading volume up by 2.71% at $$628.94 million. The latest price action represents a 4.71% dip in the past 24 hours and a 72.72% gain over the last seven days.
Data from CoinMarketCap shows that BONK's circulating supply stands at 60.84 trillion, with a market cap of $1.24 billion.
